The morning sell-off in core EGBs has...>

EGB SUMMARY: The morning sell-off in core EGBs has lost momentum, while BTPs

remain offered.

- The data flow has been light and headlines thin on the ground. Today's

Riksbank, Norges Bank and Bank of England policy meetings had low market impact,

while the impeachment of US President Donald Trump is unlikely to lead to any

material change in the White House.

- Current German bund yields: 2-year -0.630%, 5-year -0.503%, 10-year -0.219%,

30-year 0.300%.

- The French OAT curve has bear steepened with 2s30s up 3bp on the day.

- BTPs continue to trade heavy with yields 7-9bp higher. 

- SPGBs have weakened slightly in line Bunds and OATs. Current yield levels:

2-year -0.395%, 5-year -0.07%, 10-year 0.462%, 30-year 1.320%.